• Sign In / Register
  • Help
  • Basket0
Prospects for Monetary Cooperation and Integration in East Asia - Prospects for Monetary Cooperation and Integration in East Asia (Hardback)
  • Prospects for Monetary Cooperation and Integration in East Asia - Prospects for Monetary Cooperation and Integration in East Asia (Hardback)
zoom

Prospects for Monetary Cooperation and Integration in East Asia - Prospects for Monetary Cooperation and Integration in East Asia (Hardback)

(author)
£8.95
Hardback 338 Pages / Published: 23/04/2010
  • Not available

This product is currently unavailable.

  • This item has been added to your basket

An investigation into monetary cooperation in East Asia that examines options ranging from informal policy coordination to the introduction of a common currency.

East Asian countries were notably uninterested in regional monetary integration until the late 1990s, when the Asian financial crisis revealed the fragility of the region's exchange rate arrangements and highlighted the need for a stronger regional financial architecture. Since then, the countries of East Asia have begun taking steps to explore monetary and financial cooperation, establishing such initiatives as regular consultations among finance ministers and central bank governors and the pooling of foreign exchange reserves. In this book, Ulrich Volz investigates the prospects for monetary cooperation and integration in East Asia, using state-of-the-art theoretical and empirical tools to analyze the most promising policy options. Volz points out that monetary cooperation can be defined broadly to include options ranging from informal policy consultations to European-style monetary union. He recommends a gradual approach toward monetary integration in East Asia, one that pursues less extensive forms of monetary cooperation before tackling such highly challenging projects as a regional exchange rate system or a regional monetary union. The simpler, less demanding forms of policy coordination would, Volz argues, allow East Asian countries to develop an integrationist spirit and gain experience in cooperation. Monetary integration is not an end in itself, Volz reminds us, but a means to promote economic and financial development and create a stable macroeconomic environment that is conducive to investment and growth. After providing an in-depth analysis of the costs and benefits of monetary integration, Volz examines different options for East Asian countries. He then proposes a strategy whereby countries first opt for a managed float of exchange rates guided by a regional currency basket into which an "Asian currency unit" is introduced as a virtual parallel currency to circulate alongside national currencies.

Publisher: MIT Press Ltd
ISBN: 9780262013994
Number of pages: 338
Weight: 680 g
Dimensions: 229 x 178 x 14 mm

You may also be interested in...

Globalizing Capital
Added to basket
All About Forex Trading
Added to basket
The Money Machine
Added to basket
£10.99
Paperback
The Death of Money
Added to basket
The Default Line
Added to basket
£15.99
Hardback
Stress Test
Added to basket
£9.99
Paperback
Unhappy Union
Added to basket
£15.00
Paperback
The Cash Nexus
Added to basket
£16.99
Paperback
Economics: A Very Short Introduction
Added to basket
The Rotten Heart of Europe
Added to basket
The Little Book of Currency Trading
Added to basket
Modern Financial Markets & Institutions
Added to basket

Reviews

Please sign in to write a review

Your review has been submitted successfully.